Resolution on Promoting the Healthy Development of Fastener Exports
September 29, 2024
After decades of hard work, my country's fastener industry has gradually grown and developed into the world's largest fastener manufacturing country and a major fastener exporter. Its export products are distributed in various countries and regions around the world and are widely welcomed. We have established deep friendships through friendly exchanges and interactive communication with our peers from all over the world. We are honored to contribute to China's fastener industry and proud of the world-renowned achievements of Chinese fasteners!
The recent world economic situation is complicated, and the impact of the international financial crisis has led to the rise of trade protectionism and tariff barriers in some countries. As a major fastener exporter, we have repeatedly suffered from anti-dumping in international trade. In particular, since January 30, 2009, the EU has imposed an anti-dumping duty of up to 85% on my country's steel fastener products after the final ruling of the anti-dumping case. Since then, my country's share of the European fastener market has dropped sharply from 26% to 0.5%, causing major setbacks for my country's fastener companies.
Since this case was not handled justly and fairly, with the strong support and help of the Ministry of Commerce, China Council for the Promotion of International Trade and the Chamber of Mechanical and Electrical Commerce, our industry argued and argued rationally. Finally, on January 18, 2016, the WTO published the Appellate Body Report on the Implementation of the Dispute Case of China's Anti-dumping Measures against Some Steel Fasteners of the European Union.
The Appellate Body of the Implementation of the Dispute Case of the Anti-dumping Measures of the WTO Fasteners fully supported China's position and claims, and once again ruled that the anti-dumping measures maintained by the European side against Chinese products violated WTO rules. It forced the European Union to announce the cancellation of its anti-dumping measures against China on February 27, 2016. So far, for our fastener industry, it has won a long-awaited victory.
